The US is targeting Vladimir Putin's two adult daughters in the latest round of sanctions because they believe the Russian president may be hiding some of his assets with them, according to the senior administration official.
Without detailing which of Putin's assets could be hiding with Mariya Putina and Katerina Tikhonova, the official said the practice was common among the Russian elite.
"We have reason to believe that Putin and many of his cronies and the oligarchs hide their wealth, hide their assets, with family members, that have placed their assets and their wealth in the US financial system, but also many other parts of the world," the official said.
"That's why the coordination, the coordinated efforts to freeze their assets and seize their physical luxury goods — their cars, their yachts, their homes, etc — that's why it's so important that we act together," the official went on.
"We believe that many of Putin’s assets are hidden with family members, and that's why we're targeting them," the official said.